FY2025 · ended Dec 31, 2025 · Revenue $692.85M, +15.4% YoY · Filed Feb 26, 2026
TheRealReal, Inc. (REAL) files with the SEC under industry code 5900, Retail-Miscellaneous Retail. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $692.8 million and a net loss of $41.8 million. Free cash flow was $18.4 million. As of Sep 30, 2026 it held $130.4 million in cash and investments and $83.3 million in total debt.
Revenue (TTM)
$782.45M
+18.1% vs year-ago TTM
Net income (TTM)
$-11.07M
+84.5% vs year-ago TTM
Operating cash flow (TTM)
$59.49M
+284.2% vs year-ago TTM
Free cash flow (TTM)
$34.64M
+861.2% vs year-ago TTM
EPS (TTM)
$-0.09
+84.7% vs year-ago TTM
Dividend per share
None
Shares outstanding
118.98M
+7.0% vs prior year
Net cash
$47.11M
as of Sep 30, 2026
Operating margin
0.4%
FY 2026
Company profile
- Industry
- Retail-Miscellaneous Retail (SIC 5900)
- Listed as
- REAL (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- San Francisco, CA
- SEC filer status
- Accelerated filer
- SEC CIK
- 1573221
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- Suburban Propane Partners LP SPH
- Winmark Corp WINA
- Teamshares Inc TMS
- Ferrellgas Partners L P FGPR
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Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $692.8M | $600.5M | $549.3M | $603.5M | $467.7M |
| Operating income | -$23.9M | -$56.5M | -$166.3M | -$189.2M | -$214.9M |
| Net income | -$41.8M | -$134.2M | -$168.5M | -$196.4M | -$236.1M |
| Diluted EPS | -$0.70 | -$1.24 | -$1.65 | -$2.05 | -$2.58 |
| Operating cash flow | $37.0M | $26.8M | -$61.3M | -$91.6M | -$142.2M |
| Free cash flow | $18.4M | $12.6M | -$90.4M | -$114.4M | -$179.6M |
| Total assets | $409.0M | $423.1M | $446.9M | $615.6M | $754.9M |
| Total liabilities | $824.6M | $830.5M | $750.2M | $785.7M | $681.8M |
| Stockholders' equity | -$415.5M | -$407.4M | -$303.3M | -$170.1M | $73.1M |
| Cash and investments | $151.2M | $172.2M | $175.7M | $293.8M | $418.2M |
| Total debt | $91.4M | $108.6M | $125.0M | $145.9M | $161.4M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Officer or director change, Regulation FD disclosure
|
Nov 5, 2026 | Nov 3, 2026 |
| 10-Q | Quarterly report | Oct 29, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 29, 2026 | Oct 29, 2026 |
| 8-K |
Current report
Material agreement, New debt, Regulation FD disclosure
|
Oct 15, 2026 | Oct 9, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 6, 2026 | Aug 6, 2026 |
All 698 TheRealReal, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.